John is a stockbroker. he has had several job offers, but he has turned them down because he thinks he can find a firm that better matches his tastes and skills. curtis has looked for work as an accountant for some time. while the demand for accountants doesn’t appear to be falling, there seems to be more people applying than jobs available.
John is frictionally unemployed, and Curtis is structurally unemployed.
John is frictionally unemployed because he is in the process of moving from one job to another and there is a high possibility he would secure his desired job, while Curtis is structurally unemployed because of the general unavailability of accounting jobs.
Option “D” Consumers become worried about job loss and buy fewer goods and services than expected, is the correct answer
Option “D” is correct because demand shock refers to the sudden decrease or increase in demand. However, option A, B, C represents supply shock because supply shock refers to a sudden increase and decrease of supply. Thus, in option A, B, C supply is decreasing suddenly while in option D the demand is decreasing. Thus option D is correct.